Charlie Lee created Litecoin $LTC . And sold all his coins at their peak price. Then he watched his community lose everything.
Charlie Lee built Litecoin from scratch in 2011.
He left his comfortable job in engineering at Google for this. He spent years promoting and developing it, believing in it publicly every day.
Then December 2017 arrived.
The market was euphoric.
Everyone was buying. People mortgaged their homes convinced that the price would never stop rising.
Charlie quietly sold all the Litecoins he owned.
At its peak price.
The reaction was violent and immediate.
People described what he did as betrayal.
They said he abandoned his community at the right moment and left everyone to bear the losses while he walked away with millions.
Charlie justified his position. He said that owning Litecoin while leading it was a conflict of interest. And that selling was the fair action.
The community listened to him. And did not care. What happened next made matters worse.
The year 2018 arrived. The price of Litecoin collapsed by 90%, like everything else.
Charlie had already sold his shares.
But here’s the part that people always ignore.
He never left. He didn’t disappear with the money. Instead, he continued to build Litecoin for years after without owning a single coin.
Either he performed the most selfless act by a founder in the cryptocurrency world.
Or he executed the most successful exit in history in terms of timing.
Please continue.